BUSAN – The "2025 Korea SME Expo" officially commenced its three-day run on July 3rd at BEXCO Exhibition Hall 1, Hall 2B, in Busan. This inaugural event, despite being its first iteration, has garnered significant praise for its robust and well-organized program, drawing a comprehensive representation of small and medium-sized enterprises (SMEs) from across the nation.
The grand opening ceremony was graced by numerous distinguished guests, including Kim Jung-wook, Planning Director of Maeil Business Newspaper; Yeom Kyung-hwan, CEO of Chungbuk Ilbo; Choi Seung-jae, Vice Minister of the SMEs and Startups Ombudsman; Kang Ki-sung, Head of the Busan Regional Office of SMEs and Startups; Jeon Ui-jun, Head of the Busan-Ulsan Headquarters of the Korea Federation of SMEs; Ban Jeong-sik, Director of Regional Innovation at the Korea SMEs and Startups Agency (KOSMES); Kim Jong-soon, Head of the Busan-Ulsan-Gyeongnam Regional Headquarters of the Korea Institute for Start-up & Entrepreneurship Development (KISED); and Kim Du-hwan, Director-General of the North Chungcheong Province Economy and Trade Bureau. The ceremony culminated in a ceremonial tape-cutting, officially marking the expo's beginning.
Jointly hosted by Joongdo Ilbo, Maeil Business Newspaper, and the Korea Local Newspapers Association, the expo operates under the inspiring slogan, "Small but certain future, find it in K-SMEs!" This theme underscores the pivotal role of SMEs in driving Korea's economic vitality and future growth. South Korean SMEs form the bedrock of the national economy, constituting an overwhelming 99.9% of all businesses and employing over 80% of the workforce. In 2021 alone, they generated 46.9% of the nation's total corporate revenue, showcasing their immense contribution to job creation, production, and exports. Recent data indicates a positive trend in SME exports, with a 3.6% increase in the first quarter of 2024, driven by key items like cosmetics and plastic products, further cementing their global competitiveness.
In his welcoming address, Kim Jung-wook of Maeil Business Newspaper emphasized the expo's role as a vital business platform. "This is where promising SMEs nationwide gather to introduce their technologies and products, connecting with domestic and international buyers," he stated. "We hope this marks a valuable beginning, opening new possibilities and a revolution for SMEs."
Yeom Kyung-hwan, representing the Korea Local Newspapers Association and CEO of Chungbuk Ilbo, lauded the meticulous planning: "Despite being the first expo, the efforts to create a substantial program are evident. We hope SMEs leverage this opportunity to unite, achieve competitiveness comparable to large corporations, and grow further."
Vice Minister Choi Seung-jae highlighted the broader impact, asserting, "This expo is a meaningful occasion to showcase the technology and passion of SMEs to the nation and the world. We anticipate it will serve as a catalyst for balanced development between regional areas and the metropolitan area, fostering opportunities for technology and idea sharing, and expanding sales channels."
Following the opening ceremony, attendees participated in a comprehensive exhibition tour. Dignitaries engaged directly with participating company representatives, receiving product explanations and attentively listening to their challenges and insights.
The expo, which runs until July 5th, features over 120 promotional booths, with more than 100 SMEs, local governments, and related organizations participating. Beyond business showcases, central government ministries such as the Ministry of SMEs and Startups and the Ministry of Employment and Labor are actively involved, providing valuable information on various support policies available to participating companies.
The Ministry of SMEs and Startups (MSS) plays a crucial role in nurturing SMEs and startups. It offers diverse programs aimed at innovation, growth, and security, including financial assistance, export support through initiatives like the Export Voucher Programme, and digital transformation funds. Recently, the MSS introduced projects like the 'Baby Unicorn Support Project Profit Growth Track' to identify and foster promising ventures. The Ministry of Employment and Labor also contributes significantly by promoting employment stability, vocational competency development, and ensuring fair labor practices. Their support extends to various areas, including addressing labor shortages and providing resources for business growth, reinforcing the comprehensive ecosystem designed to empower SMEs.
The 2025 Korea SME Expo stands as a testament to the nation's commitment to fostering a dynamic and inclusive economic landscape, propelling its SMEs towards a brighter, more competitive future.
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